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H.R. 6417: Emergency Savings Enhancement Act of 2025

119th Congress · introduced 2025-12-03 · Taxation · Latest: Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

federal

What does this mean?

Official title

Emergency Savings Enhancement Act of 2025

Plain summary

Emergency Savings Enhancement Act of 2025 This bill expands eligibility and increases the maximum contribution limit for pension-linked emergency savings accounts (PLESAs). As background, PLESAs are savings accounts that are established and maintained in connection with a defined contribution retirement plan, such as a 401(k). Contributions to such accounts are subject to federal income tax, and withdrawals are allowed for any reason. The bill expands eligibility for PLESAs by eliminating the exclusion of highly compensated employees. Thus, under the bill, individuals who meet the age, service, and other eligibility requirements of the plan, regardless of compensation, are eligible to participate in such a plan. The bill also increases the maximum limit on the portion of a PLESA balance attributable to participant contributions to $5,000 (from $2,600 in 2026). This limit continues to be adjusted for inflation.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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A “Nay” vote

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Emergency Savings Enhancement Act of 2025

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Vindman, Eugene Simon [D-VA-7] · 1 cosponsors

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Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr6417 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills